With Finmark you can model a global salary increase for your employees to have a more accurate payroll forecast.
Step 1: Go to the Settings section and scroll to the Employees section.
Step 2: Click the "edit" icon on the top right to edit the "Salary Increase" portion.
Under the Salary Increase, you can enter the percent of increase and set the frequency.
% (Percent of Increase): The percentage by which the annual salary increases for all of the employees
Frequency: The frequency of this salary increase
Semi-Annually or Annually: Will trigger a salary increase for 6 Months/1 Year from the employee's start date.
Custom Date: All employees' salaries will increase on the date set.
Impact on Actuals:
Each increase will be captured at the individual employee level
Salary changes will be reflected in Finmark as employee salaries are used in locations such as; Dashboard, Employees Section, and Actuals.
Historical actuals will not be impacted.